Zacks Investment Research upgraded shares of CMS Energy Corporation (NYSE:CMS) from a sell rating to a hold rating in a research note issued to investors on Friday, October 27th.
According to Zacks, “CMS Energy reported mixed third-quarter result. While the company’s bottom line surpassed the Zacks Consensus Estimate, the top line failed to meet the consensus mark. Year-over-year results were disappointing on both earnings as well as revenue front. CMS Energy’s focus on strengthening circuits and substations, replacing aging poles and installing smart meters buoys optimism. The company’s multi-billion investment plan for the next decade to improve infrastructure as well as replace the aged ones, buoys notable optimism for the stock’s growth. This may have led the company to outperform its broader industry over a year. However, unexpected weather conditions may result in reduced utility usage, thereby affecting CMS Energy’s performance. Moreover, increasing stringency of global environmental regulations on curbing carbon emissions during electricity generation remains a major concern for CMS Energy.”
Several other brokerages have also recently issued reports on CMS. SunTrust Banks, Inc. reiterated a hold rating and issued a $47.00 price target on shares of CMS Energy Corporation in a research note on Wednesday, October 4th. KeyCorp reiterated a buy rating and set a $51.00 price target on shares of CMS Energy Corporation in a report on Friday, October 20th. BidaskClub downgraded CMS Energy Corporation from a buy rating to a hold rating in a report on Thursday, July 6th. Royal Bank Of Canada restated a hold rating and issued a $46.00 price objective on shares of CMS Energy Corporation in a report on Monday, September 11th. Finally, Morgan Stanley set a $49.00 price objective on CMS Energy Corporation and gave the company a hold rating in a report on Thursday, August 10th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $48.90.
CMS Energy Corporation (NYSE:CMS) traded up $0.92 on Friday, hitting $50.55. The company’s stock had a trading volume of 3,279,200 shares, compared to its average volume of 1,840,536. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.94 and a quick ratio of 0.59. The firm has a market cap of $14,170.00, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 3.54 and a beta of 0.18. CMS Energy Corporation has a 1 year low of $39.42 and a 1 year high of $50.71.
CMS Energy Corporation (NYSE:CMS) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. CMS Energy Corporation had a return on equity of 12.30% and a net margin of 8.38%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $0.70 earnings per share. CMS Energy Corporation’s quarterly revenue was down 3.8% on a year-over-year basis. research analysts expect that CMS Energy Corporation will post 2.17 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.3325 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.33 annualized dividend and a dividend yield of 2.63%. CMS Energy Corporation’s payout ratio is currently 68.91%.
In related news, insider Dhenuvakonda Rao Venkat sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $48.02, for a total value of $48,020.00. Following the completion of the transaction, the insider now directly owns 28,176 shares of the company’s stock, valued at approximately $1,353,011.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brian F. Rich sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $48.26, for a total transaction of $168,910.00. Following the completion of the transaction, the senior vice president now directly owns 44,835 shares of the company’s stock, valued at $2,163,737.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,500 shares of company stock valued at $312,550. 0.65% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Clarius Group LLC boosted its holdings in CMS Energy Corporation by 0.6% in the 2nd quarter. Clarius Group LLC now owns 5,320 shares of the utilities provider’s stock valued at $247,000 after purchasing an additional 34 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of CMS Energy Corporation by 0.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 16,924 shares of the utilities provider’s stock worth $783,000 after acquiring an additional 62 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of CMS Energy Corporation by 1.3% during the 2nd quarter. Wetherby Asset Management Inc. now owns 5,216 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 66 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of CMS Energy Corporation by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,836 shares of the utilities provider’s stock worth $964,000 after acquiring an additional 73 shares during the last quarter. Finally, Chemical Bank lifted its holdings in shares of CMS Energy Corporation by 1.0% during the 2nd quarter. Chemical Bank now owns 8,450 shares of the utilities provider’s stock worth $391,000 after acquiring an additional 85 shares during the last quarter. 87.65% of the stock is owned by hedge funds and other institutional investors.
About CMS Energy Corporation
CMS Energy Corporation is an energy company operating primarily in Michigan. The Company operates through three segments: electric utility, which consists of regulated activities associated with the generation, transmission and distribution of electricity in Michigan; gas utility, which consists of regulated activities associated with the transportation, storage and distribution of natural gas in Michigan, and enterprises, which consists of various subsidiaries engaging primarily in domestic independent power production.
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